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Explore EssentialCare Solutions

Hourly employees with access to the healthcare system stand out in a crowd. So do their employers.

EssentialCare insurance solutions expand protection for insurance companies, brokers, agents, administrators, employers, and hourly/seasonal employees. And while other insurers are trying to gain a foothold in the limited benefit marketplace, BCS Insurance has been filling this important need for years.

EssentialCare

The EssentialCare limited benefit fixed indemnity medical insurance solution can be used as a stand-alone health plan, in conjunction with a Minimum Essential Coverage Plan (MEC) or as a Supplemental Plan to major medical coverage.

EssentialCare MEC

EssentialCare MEC is a self-funded aggregate Minimum Essential Coverage plan that provides coverage for government mandated wellness and preventive services as outlined under the Affordable Care Act (ACA). EssentialCare MEC provides coverage for 100% in network and 40% out of network services.

Tax Advantages1

An employer offering a Minimum Essential Coverage (MEC) plan may be able to satisfy Part A of the employer mandate under ACA to offer coverage

An employee that accepts coverage may be able to mitigate the Individual Insurance Coverage Mandate

In 2015–A tax of greater than 2% of adjusted gross income or $325 per adult, $162.50 per child, whichever is greater

In 2016–A tax of greater than 2.5% of adjusted gross income or $695 per person, $347.50 per child, whichever is greater

Employer Self-Funding Advantages

Flexible Contribution Options – Employers have the option of contributing to the premium (a portion or the entire amount), or having employees cover the full cost

Lower Cost of Operation–Self-funded TPA program costs are lower than those charged for a fully insured program

Increased Cash Flow Benefit–Money previously held by the insurance company for unreported claims and pending claims is available for use by the employer plan sponsor

Elimination of Carrier Profit Margin and Risk Charge–The standard profit margin and risk charge of an insurance carrier are eliminated

Risk Management through Stop Loss Carrier–The employer may choose the amount of risk to retain and the amount of Stop Loss coverage2

1The information provided in this brochure is not intended for use as tax or accounting advice. Please consult with a qualified tax attorney or accounting professional before making decisions or taking action relating to your business situation.

2A Fixed Indemnity Medical plan underwritten by BCS must be offered in order to obtain stop loss coverage. BCS offers a brochure product with a $20,000 minimum annual aggregate deductible with a $1 Million annual aggregate benefit maximum. The employer assumes the risk between the normally anticipated claim level and the Stop Loss coverage level.

With over 60 years’ experience in expanding protection, BCS Insurance is rated “A-” (Excellent) by A.M. Best and licensed to provide health, property, and casualty solutions in all 50 states, the District of Columbia, and Puerto Rico.